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Interventional Imaging Inc., is the $40,000 grand prize winner
in the bioscience track of the Case Weatherhead Business Launch
Competition.
Jonathan Lewin, CWRU professor of
radiology and director of magnetic resonance imaging at
University Hospitals of Cleveland (UHC), and Jeffrey L.
Duerk, CWRU professor of radiology and director of physics
research in radiology at UHC
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The four-person company, also known as "I3" or "I-cubed,"
has developed novel technology that will provide a platform for
new methods to diagnose and treat cardiovascular disease. The
researchers have made a device to detect fat deposits in the heart,
which often lead to sudden, often deadly heart attacks.
I3 will use the prize money to develop a commercial prototype
for use in human clinical trials, which it plans to begin during
the third quarter of 2003.
Jonathan Lewin, CWRU professor of radiology and director of magnetic
resonance imaging at University Hospitals of Cleveland (UHC),
and Jeffrey L. Duerk, CWRU professor of radiology and director
of physics research in radiology at UHC, developed the device
in laboratories here about three years ago. The device uses magnetic
resonance imaging coils that are inserted into coronary arteries
to obtain unparalleled high-resolution images of vessel walls.
According to CrainTech, investors already are showing interest
in the device. I3 is negotiating with a health care corporation
that would like to invest, and it plans to talk to the local venture
capital and angel community. Lewin is confident FDA approval will
not be a significant barrier.
The two runner-up winners in the competition are a developer
of cranial plates, Osteoplastics, Corp., and a Cleveland Clinic
spinoff that produces valve replacement technology, ValveXchange
Inc. Each won $5,000.
The bioscience track competition is part of a larger business
plan competition sponsored by CWRU's Institute for the Integration
of Management and Engineering (TIIME), a partnership between the
schools of engineering and management.
TIIME will award $100,000 and other benefits to winners of the
2003 contest. TIIME is accepting executive summaries for that
competition until February 3.
For further information, visit TIIME's Web site: http://www.tiime.cwru.edu/.
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